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Mortgage for self-employed help please!!
Russell_Sprout85
Posts: 2 Newbie
Hi,
Looking for some advice please, recently applied for 95% mortgage through Natwest, agreed in principle then declined, they said I passed affordability, however upon looking at my bank statements because I'd gone overdrawn twice in the last 6 months (by £6ish!) they have knocked me back. I could kick myself as it was just basically though bad account management- I use my business account for most things (they were happy with this account) but the problem was with my personal account which I use for the weekly food shop and the odd direct debit, I stupidly hadn't set it up for online banking and didn't keep track of the balance, so it was overdrawn for a few days on those occasions. It's my own stupid fault I know.
My question is, is it worth trying elsewhere with another bank? Would too many searches look bad? Using a broker at the moment but it's my first experience of all of this so I'm not sure if he is any good or not to be honest, it's a family friend so thought we would use him.
I could push the deposit up to 10% if need be.
For info I am self employed, trading 6 years, last set of accounts show earnings at £36500, looking to borrow £123000.
Thank you in advance, any help is much appreciated.
Looking for some advice please, recently applied for 95% mortgage through Natwest, agreed in principle then declined, they said I passed affordability, however upon looking at my bank statements because I'd gone overdrawn twice in the last 6 months (by £6ish!) they have knocked me back. I could kick myself as it was just basically though bad account management- I use my business account for most things (they were happy with this account) but the problem was with my personal account which I use for the weekly food shop and the odd direct debit, I stupidly hadn't set it up for online banking and didn't keep track of the balance, so it was overdrawn for a few days on those occasions. It's my own stupid fault I know.
My question is, is it worth trying elsewhere with another bank? Would too many searches look bad? Using a broker at the moment but it's my first experience of all of this so I'm not sure if he is any good or not to be honest, it's a family friend so thought we would use him.
I could push the deposit up to 10% if need be.
For info I am self employed, trading 6 years, last set of accounts show earnings at £36500, looking to borrow £123000.
Thank you in advance, any help is much appreciated.
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